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of <h1>ITAT ruling: Government subsidy to cooperative society not taxable</h1> The Appellate Tribunal ITAT Jabalpur held that the subsidy received by a cooperative society from the Government of Madhya Pradesh was not taxable as it ... - The judgment by the Appellate Tribunal ITAT Jabalpur held that the subsidy received by a cooperative society from the Government of Madhya Pradesh was not liable to be included in its total income. The subsidy was considered a capital receipt for specific purposes and not a revenue receipt, therefore excluded from taxable income. The appeals and cross objections were dismissed and rejected. (Case: 1982 (7) TMI 161 - ITAT JABALPUR)
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